Algeria: $286 billion for industry and infrastructures

27 May 2010

A sum of 286 billion Dollars in bank credits, subsidized by the Algerian State, is going to be mobilized for industry according to an announcement from the Council of Ministers issued on Monday 24 May 2010.

This financing is going to allow in particular the creation of new electricity generating plants, as well as the development of the petrochemical industry.

It will also allow for a million households to be connected to the natural gas network, and for 220,000 rural households to be provided with electricity.

The Algerian government has likewise announced an investment between now and 2014 of 130 billion Dollars to complete the projects which have already been embarked upon in the sectors of the railways, highways, and water, and 156 billion Dollars in new infrastructure projects.

This financing has been allocated in order to allow for the sustaining of economic development in Algeria.

The government is hoping that the recruitment which will derive from the performance of these projects will have significant effects on growth.

Category: Energy